The accounting equation for Sunland Company is as follows: Assets $120200 # $60100 $120200 If Sunland purchases office equipment on account for $26600, the accounting equation will change to $146800 Liabilities Assets Liabilities Owner's Equity $146800 $146800 Owner's Equity $60100 $60100 + $60100 $86700 + $60100 $60100 $73400 + $73400 $86700

The accounting equation for Sunland Company is as follows: Assets $120200 # $60100 $120200 If Sunland purchases office equipment on account for $26600, the accounting equation will change to $146800 Liabilities Assets Liabilities Owner's Equity $146800 $146800 Owner's Equity $60100 $60100 + $60100 $86700 + $60100 $60100 $73400 + $73400 $86700

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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